The management of the Eurozone in crisis times: Actors, institutions and the case of bailout packages
| Autor: | Rocio Valdivielso del Real, Miguel Glatzer, Michel Goyer |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Organizational Behavior and Human Resource Management
HF Liberalization Strategy and Management HB 05 social sciences 050209 industrial relations International economics General Business Management and Accounting 0506 political science Collective bargaining Austerity Management of Technology and Innovation 0502 economics and business Financial crisis Institutionalism 050602 political science & public administration Business Internal devaluation Industrial relations Bailout |
| Zdroj: | European Journal of Industrial Relations. 28:7-25 |
| ISSN: | 1461-7129 0959-6801 |
| DOI: | 10.1177/09596801211011355 |
| Popis: | The adjustment to the financial crisis was particularly brutal for Eurozone countries targeted by private bondholders. Financial assistance through the newly created Eurozone governance system was conditional on the implementation of austerity measures and the introduction of structural reforms in industrial relations (decentralization of collective bargaining and liberalization of employment protection). Our analysis focuses on the formation process and the structural features of Eurozone supranational institutions. Building from the insights of actor-centred institutionalism, we illustrate the importance of coalitions among some, but not all, important actors based on the overlapping of their non-monolithic preferences in the process of institutional innovation. The structural features of Eurozone institutions curtailed member states’ ability to effectively resist the imposition of internal devaluation policies. A contested outcome, these institutional features were secured by a specific coalition of important actors – most notably, the German government and the European Central Bank – based on their overlapping interests around internal devaluation policies. |
| Databáze: | OpenAIRE |
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